Shares of new age firms such as PolicyBazaar and Nykaa continued with their downfall on Tuesday even as the broader market managed to regain some of its sharp losses from the previous session on Monday.
These stocks are treading downhill as analysts feel these companies have low valuations.
PB Fintech-backed PolicyBazaar’s shares, however, fell just 0.8 per cent and settled at Rs 771.25. On Monday, it fell over 10 per cent.
FSN-E Commerce Ventures-backed Nykaa fell nearly four per cent intraday on Tuesday and settled at Rs 1,667. On Monday, it fell 12.7 per cent.
Both the new new-age companies made their debut on the exchanges in 2021.